Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
News for 'CYDE' - (CyberDefender Corporation Announces Third Quarter 2011 Financial Results)
LOS ANGELES, Nov 10, 2011 (GlobeNewswire via COMTEX) -- CyberDefender(R)
Corporation (Nasdaq:CYDE), a leading provider of direct-to-consumer remote
technical support services, Internet security software! and utilities, today
announced financial results for the third quarter ended September 30, 2011.
Third Quarter 2011 Highlights
-- Cost of revenue declined 30% year-over-year, 33% sequentially
-- Gross profit increased 11% year-over-year, 16% sequentially
-- Gross sales renewals increased 11% year-over-year
-- Company secured $5.2 million in financing
Management Change
The Board of Directors reached an agreement in principle to appoint Greg Thomas
as its chief executive officer and is engaged with Mr. Thomas to execute a
formal employment agreement by November 15, 2011. Gary Guseinov, the Company's
former chairman and chief executive officer, resigned effective August 1, 2011.
Kevin Harris, the Company's chief financial officer, has been appointed interim
chief executive officer.
Mr. Thomas has served as an independent advisor to the Board of Direc tors and
the Company since May 2011. He brings to CyberDefender more than 20 years of
industry expertise in growing and managing highly successful direct-to-consumer
marketing companies.
"Our third quarter was dedicated to the implementation of our strategic plan,
and I am excited to report our efforts yielded meaningful improvements to a
number of key metrics," said Mr. Thomas. "Our company plan for stability, growth
and profitability includes comprehensive efforts across front-end customer
acquisition, product portfolio, call center efficiency, collections, and our
eCommerce platform. We are committed to providing best-of-breed products and
services to our customers while achieving sustainable profitability and building
a solid foundation so that we may capitalize on the opportunity ahead of us."
"Meeting our goals for profitability will require perseverance, determination
and commitment and this will not be accomplished overn! ight. I am, however,
confident we have the right plan and the right team in place," concluded Mr.
Thomas.
Results for the Quarter Ended September 30, 2011
GAAP revenue for the third quarter of 2011 was $11.8 million, compared to $12.7
million reported in the same quarter of 2010. Gross sales for the third quarter
of 2011 were $13.8 million compared to $18.6 million reported in the same
quarter of 2010. The Company defines gross sales (a non-GAAP measure) as GAAP
revenues before returns and before deferring revenue for GAAP purposes (the
Company's use of non-GAAP measures and reconciliation to GAAP is explained
below).
Cost of revenue for the third quarter of 2011 was $4.1 million compared to $5.8
million for the third quarter of 2010.
Gross profit for the third quarter of 2011 was $7.7 million compared to $6.9
million in the third quarter of 2010.
Gross margins in the third quarter of 2011 increased to 65% of ! net revenue
compared to 54% in the same quarter of 2010.
Dur ing the third quarter, the Company raised an aggregate of $5.2 million in
financing. The company closed $3.2 million of the aggregate during the third
quarter, and will recognize the remaining $2 million during the fourth quarter.
The financing is described in a Form 8-K filed with the Securities and Exchange
Commission on October 4, 2011.
"As we continue to explore opportunities to improve the capitalization of the
company, we believe that the additional financing raised during the third
quarter will permit the Company to continue to execute on its strategic
repositioning plan," said Interim Chief Executive Officer and Chief Financial
Officer Kevin Harris.
The Company ended the quarter with deferred revenue of $18.5 million and
unrestricted cash of $1.5 million.
Results for the Nine Months Ended September 30, 2011
GAAP revenue for the nine months ended September 30, 2011 was $39.9 million,
compared to $32.0 million r! eported during the same period of 2010. Gross sales
(a non-GAAP measure) for the nine months ended September 30, 2011 was $50.9
million, compared to $42.8 million reported during the same period of 2010.
Cost of revenue for the first nine months of 2011 was $17.3 million, compared to
$13.0 million reported during the same period of 2010.
Gross profit for the first nine months of 2011 was $22.6 million, compared to
$18.9 million reported during the same period of 2010.
2011 Guidance
For the full year 2011, the Company expects gross sales in the range of $63 to
$65 million.
Non-GAAP Financial Measures
Gross sales are a non-GAAP measure that the Company uses in assessing its
operating performance. We define gross sales as total sales before refunds and
uncollectible receivables/cancels and before deferring revenue for GAAP
purposes. We use this non-GAAP financial measure frequently because we believe
it gives! a better indication of our operating performance and the profitabilit y
of our marketing initiatives. We include this non-GAAP financial measure in our
earnings announcements in order to provide transparency to our investors and
enable investors to better understand our operating performance. However, gross
sales alone should not be used to assess our financial performance or to
formulate investment decisions.
The following is a reconciliation of gross sales to net GAAP revenue for the
three and nine months ended September 30, 2011 and September 30, 2010.
Three Months Ended September Nine Months Ended September
! 30, 30,
----------------------------- -----------------------------
2011 &nb! sp; 2010 &n bsp; 2011 2010
------------ ------------ ------------ ------------
Gross Sales $ 13,820,120 $ 18,559,760 $ 50,917,727 $ 42,801,971
Less: Refunds (1,433,312) (2,455,713) (5,603,873)&! nbsp; (5,411,358)
Less: Uncollected EZ pay (729,714) (1,276,108) (2,639,899) (2,070,470)
Less: Change in deferred
revenue 129,455 ! (2,081,836) (2,79 0,917) (3,384,124)
------------ ------------ ------------ ------------
Net revenue $ 11,786,549 $ 12,746,103 $ 39,883,038 $ 31,936,019
============ ============ ============ ============
Conference Call Information
The Company will host a conference call to discuss third quarter 2011 results
today, Thursday, November 10, 2011 at 1:30 pm PT/4:30 pm ET.
To access the live conference call, dial (877) 407-9210 (toll free) and give the
company name, "CyberDefender." Participants are asked to call the assigned
number approximately 10 minutes before the conference call begins. For those
unable to participate in the live conference call, a replay of the conference
call will be available (starting two hours after the call) by dialing (877)
660-6853 and entering the following account #: 286 and conference ID #: 382231.
International callers may access the replay by calling (201) 612-7415 and
entering the above pass code.
To listen to the live webcast, logon using the link provided in the events
section of the Company's website: www.cyberdefendercorp.com. An instant replay
of the conference call will be ! available over the Internet at the same web
address.
About C yberDefender
CyberDefender is a leading provider of remote technical support services,
Internet security software and utilities directly to the consumer market.
CyberDefender's team of highly trained technicians and sales agents provide
customers with efficient, round the clock remote PC repair services. The company
markets antispyware/antivirus software, PC optimization software and online
backup services. By combining remote live technical support and the
aforementioned software products, CyberDefender offers a complete Internet
security solution to consumers.
CyberDefender directly markets its products and services to consumers through
television and radio via its MyCleanPC(R), MaxMySpeed(R) and DoubleMySpeed(R)
brands. CyberDefender products are fully compatible with Microsoft Windows(R)
XP, Vista(R), and 7 Operating systems. All products are available at
www.cyberdefender.com. Investor relations information is available atwww.cyberdefendercorp.com.
The CyberDefender Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7874
Forward Looking Statements
Statements in this public announcement that are not statements of historical or
current fact, including any statement regarding future growth and profitability,
and future revenue targets, constitute "forward-looking statements" under
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. The forward looking statements
include statements concerning the Company's future business and financial
prospects including, but not limited to, the Company's ability to execute on its
strategic repositioning plan and its ability to achieve profitability. . The
forward-looking statements involve known and unknown risks, uncertainties and
other unknown factors that could cause CyberDefender's actual results to bematerially different from the historical results or from any future results
expressed or implied by such forward-looking statements. Factors that could
cause CyberDefender's results to be materially different from the
forward-looking statements include whether CyberDefender will be able to find
financing as required and whether CyberDefender's revenues eventually will
exceed its expenses. The forward-looking statements also are subject generally
to other risks and uncertainties that are described from time to time in
CyberDefender's reports and registration statements filed with the Securities
and Exchange Commission, which are available for review at www.sec.gov.
CYBERDEFENDER CORPORATION
CONDENSED BALANCE SHEETS &! nbsp;
(UNAUDITED)
September 30, December 31,
&n! bsp; 2011 &n bsp; 2010
------------- ------------
ASSETS
Current assets
! ; Cash $ 1,546,221 $ 2,649,061
Restricted cash 2,255,074 3,079,394
Accounts receivable 1,688,276 2,385,920
Deferred financing costs,
current &nbs! p; &n bsp; 124,241 103,484
Prepaid expenses 174,225 195,258
Deferred charges, current 335,174 1,147,764
------------- ------------
Total current assets 6,123,211 9,560,881
Property and equipment, net ! 1,508,744 1,742,675
Deferred financing costs, net
of current portion -- 6,377
Deferred charges, net of
current portion &nb! sp;41,467 402,772
Other assets 288,225 269,314
------------- ------------
Total assets $ 7,961,647 $ 11,982,019
============= ============
LIABILITI! ES AND STOCKHOLDERS'
DEFICIT
Current liabilities:
Accounts payable $ 5,794,6! 69 $ 6,275,896
Accounts payable and a ccrued
expenses -- related party 3,140,890 1,447,257
Accrued expenses 1,887,959 1,788,435
Deferred revenue, current 13,707,888 11,342,211
Convertible notes payable --
relat! ed party, net of
discount 10,458,924 --
Capital lease obligations,
current ! ; 129,552 137,435
&nb sp; ------------- ------------
Total current liabilities 35,119,882 20,991,234
Deferred rent 804,777 466,920
Deferred revenue, less current
portion &nbs! p; 4,841,681 4,116,442
Convertible notes payable --
related party 150,000 9,825,056
Convertible notes payable, net
of discount ! 1,554,059 --
Capital lease obligations, less
current portion 78,856 168,572
------------- ------------
Total liabilities 42,549,255 35,568,224
&nbs! p; ------------- ------------
Commitments and contingencies
Stockholders' deficit:
Preferred stock, par value !
$0.001; 10,000,000 shares
authorized; no shares issued
and outstanding at September
30, 2011 and December 31,
2010, respectively ! -- --
Common stock, par value $0.001;
100,000,000 shares authorized;
27,916,440 and 27,327,702
shares issued and outstanding &nb! sp; & nbsp;
at September 30, 2011 and
December 31, 2010,
respectively 28,115 27,328
Treasury stock at par value, &nbs! p;
199,287 shares (199) --
Additional paid-in capital 67,511,341 60,926,037
Accumulated deficit (102,126,865) (84,539,570)
------------- ------------
! ; Total stockholders' deficit (34,587,608) (23,586,205)
------------- ------------
Total liabilities and
stockholders' deficit $ 7,961,647 $ 11,982,019
============= ============
CYBERDEFENDER CORPORATION CONDENSED STATEMENTS OF OPERATIONS
(UNAUDITED)
&nb! sp; For the Three Months &nbs p; For the Nine Months
Ended Ended
----------------------------- ------------------------------
&nbs! p; September 30,
September 30, September 30, September 30,
2011 2010 &nbs! p; 2011&nbs p; 2010
------------- -------------- -------------- --------------
Net revenue:
Services ! $ 7,345,340 $ 7,928,021 $ 25,882,764 $ 17,592,282
Software and other 4,441,209 4,818,082 14,000,275 14,343,737
------------- -------------- -------------- --------------
Total net revenue 11,786,549 12,746,103 39,883,039 31,936,019
Cost of revenue: ;
Services 3,935,382 5,616,316 16,588,621 12,348,299
Software and other 152,132 217,581 727,271 &! nbsp; 654,449
------------- -------------- -------------- --------------
Total cost of revenue 4,087,514 5,833,897 17,315,892 13,002,748
------------- -------------- -------------- --------------
Gross profit &n! bsp; 7,699,035 &nb sp; 6,912,206 22,567,147 18,933,271
Operating expenses:
Media and marketing &nb! sp;
services 5,145,098 5,954,673 17,074,771 16,038,652
Media and marketing
services -- related &nbs! p; &n bsp;
party 175,534 6,500,634 861,766 18,623,694
Product development 571,289 742,207 2,334,051 2,457,726
Selling, general and &! nbsp;
administrative 4,610,523 4,252,866 15,574,806 11,402,399
Depreciation and &! nbsp; ;
amortization 111,353 51,867 316,709 127,012
------------- -------------- -------------- --------------
Total operating expenses 10,613,797 17,502,247 36,162,103 48,649,483
&nb! sp; ------------- -------------- -------------- --------------
Loss from operations (2,914,762) (10,590,041) (13,594,956) (29,716,212)
Interest expense --
related party &! nbsp; (1,866,870) (279, 382) (3,620,971) (556,080)
Interest expense, net (255,318) (11,897) (268,651) (945,116)
Loss on securities
modifications ! -- -- (102,717) --
------------- -------------- -------------- --------------
Net loss $ (5,036,950) $ (10,881,320) $ (17,587,295) $ (31,217,408)
============= ===========! === ============== ==============
Basic and fully diluted
net loss per share $ (0.18) $ (0.40) $ (0.63) $ (1.18)
============= ============== ==============&n! bsp; ==============
Weighted average shares
outstanding:
&nb! sp;Basic and fully diluted &n bsp;27,745,673 27,027,189 27,832,353 26,408,814
============= ============== ============== ==============
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: CyberDefender Corporation
By Staff
CONTACT: CONTACT: Investor Relations:
(213) 689-8631 x 401
IR@CyberDefender.com
&nbs! p; IR Site: www.CyberDefenderCorp.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Computer Software and Services
SUBJECT CODE: SOFTWARE
EARNINGS
WEBCAST
CONFERENCE CALL
Earnings Releases and Operating Results
Calenda! r of Events
i saw. pretty positive report.
keeping a very close eye on it my friend.
tiny float bro, this company is growing at a fast rate!
the weekly MACD has turned green, good thing to see.
If it's good it could pop nicely my friend. and it's a weekly pincher too.
Shares Outstanding5: 26.17M
Float: 17.59M
earnings out november 10th this stock is undervalued.
earnings out november 10th this stock is undervalued.
News for 'CYDE' - (CyberDefender Announces Teleconference to Discuss Third Quarter 2011 Financial Results)
LOS ANGELES, Oct 27, 2011 (GlobeNewswire via COMTEX) -- CyberDefender(R)
Corporation (Nasdaq:CYDE), a leading provider of direct-to-consumer remote
technical support services, Internet se! curity software and utilities, today
announced that the company will release its third quarter 2011 financial results
after market close on Thursday, November 10, 2011. On the same day, management
will hold a teleconference available to all interested parties to discuss its
financial results at 4:30 p.m. ET (1:30 p.m. PT).
What: CyberDefender Third Quarter 2011 Financial Results Conference Call
When: Thursday, November 10th, at 4:30 p.m. ET (1:30 p.m. PT)
Webcast: To listen to the live webcast, logon using the link provided in the
events section of the company's website: www.cyberdefendercorp.com
Dial in: To access the live conference call, dial (877) 407-9210 (toll free) and
give the company name, "CyberDefender." Participants are asked to call the
assigned number approximately 10 minutes before the conference call begins.
Web Replay: An instant replay of the conference call will be available over the
Internet at t! he web address above.
Call Replay: For those unable to particip ate in the live conference call, a
replay of the conference call will be available (starting two hours after the
call) by dialing (877) 660-6853 and entering the following account #: 286 and
conference ID #: 382231. International callers may access the replay by calling
(201) 612-7415 and entering the pass code above.
About CyberDefender
CyberDefender is a leading provider of remote technical support services,
Internet security software and utilities directly to the consumer market.
CyberDefender's team of highly trained technicians and sales agents provide
customers with efficient, round the clock remote PC repair services. The company
markets antispyware/antivirus software, PC optimization software and online
backup services. By combining remote live technical support and the
aforementioned software products, CyberDefender offers a complete Internet
security solution to consumers.
CyberDefender directly markets its prod! ucts and services to consumers through
television and radio via its MyCleanPC(R), MaxMySpeed(R) and DoubleMySpeed(R)
brands. CyberDefender products are fully compatible with Microsoft Windows(R)
XP, Vista(R), and 7 Operating systems. All products are available at
www.cyberdefender.com. Investor relations information is available at
www.cyberdefendercorp.com.
The CyberDefender Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7874
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: CyberDefender Corporation
By Staff
CONTACT: CONTACT: Investor Relations:
(213) 689-8631 x 130
! IR@CyberDefender.com
IR Site: www.CyberDefenderCorp.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Computer Software and Services
SUBJECT CODE: INTERNET
EARNINGS
CONFERENCE CALL
WEBCAST
Calendar of Events
Earnings Releases and Operating Results
WOW, I go away for the day and all H ELL BREAKS loose, wow very nice close indeed.
I'm thinking the same thing, good luck everyone holding!
Yes, very solid so far:)
CYBERDEFENDER CORPORATION - Sale price rose to 0.6000
Nice news, looks like a nice day in the works !!!
News for 'CYDE' - (*DJ CyberDefender Names Thomas As New CEO)
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
October 05, 2011 08:04 ET (12:04 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.- - 08 04 AM EDT 10-05-11
News for 'CYDE' - (*DJ CyberDefender Corp: Secured $3.45M In Addl Financing >CYDE)
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2400)
October 05, 2011 08:04 ET (12:04 GMT)
Copyright (c) 2011 Dow Jones & Company, Inc.- - 08 04 AM EDT 10-05-11Source: DJ Broad Tape
your not not kidding perfectpicks, hard to tell where this settles! But, hoping for a hard reversal when it does!
Wonder where the bottom is going to be, I never thought I would see it under .30 $.
We are as well. And have the same gut feeling.
Just waiting / holding right now, but have a good feeling about the future!
All we got is time and money my friend. Collecting. Or do you know something? :)
I think our day (CYDE) is coming:)
Think there is plenty of time. And with this small Share Structure, float and the size of the short interest versus the 10 day avg volume well anything could set a spark to this. jmo.
Yes I agree, If they come out with good news it will pop, my concern is they have to get the price back above one dollar to stay on the big board or else, A reverse split will be on the way .
They are going to turn this around in a big way imo so still collecting some here and there my friend. If and when they scare up some good news, she'll go. Meanwhile shorty may be covering. If not, he may wanna start.
Whats your take on the latest news ???
Planning on it my friend...
This one will pop soon !!!
Still holding and collecting shares. The stash is growing...
News for 'CYDE' - (CyberDefender Retains Direct Response Industry Veterans Worth Linen Associates Company Leverages More Than 30 Years of Experience to Support Management in Execution of Strategic Repositioning)
LOS ANGELES, Aug 17, 2011 (GlobeNewswire via COMTEX) -- CyberDefender(R) Corporation! (Nasdaq:CYDE), a leading provider of direct to consumer remote technical support services, Internet security software and utilities, today announced it has retained Worth Linen Associates (WLA) as strategic counsel.
Leveraging WLA's more than 30 years of direct to consumer marketing experience, during the six-month engagement the firm will support CyberDefender senior management in the execution of a series of organizational changes related to its
new strategic direction (see press release dated August 2, 2011).
Under the terms of the agreement, WLA will focus on helping the company improve its operating performance in marketing strategy and execution, phone center operations and efficiencies, financial procedures and collections, and data systems and customer database management.
"As we execute on our strategic changes, it's important to create the right structure and support within the organization, and we are pleased to have the depth of experience of the Worth Linen Associates team here to a ssist us," said CyberDefender Executive Consultant and interim CEO candidate, Greg Thomas.
"Worth Linen will support management in various aspects of marketing and sales efforts, call center management, customer communication, data management and analysis, collections and accounts receivable management. From improving the front-end process of customer acquisition and restructuring the renewal process to implementing cross-sale opportunities, we are working aggressively to optimize the way the company generates and retains subscription revenue."
About Worth Linen Associates
Worth Linen Associates (WLA, Inc.) is a direct marketing consulting firm
headquartered in New York. WLA specializes in helping venture capital and
private equity clients evaluate and manage their direct-to-consumer company
investments from a unique, insider's perspective. WLA also provides marketing
and management consulting, as well as database management and! analysis services,
to a broad range of clients, including Guthy-Renker, New Vitality, the USO,
consumer financial service companies, and traditional direct marketers such as
publishers, cataloguers, and book and music clubs. WLA has assigned its two most
senior executives to work with CyberDefender:
- Worth Linen, WLA CEO -- former Vice Chairman of Wunderman Worldwide, CEO of
BMG Direct, Chairman of The Signature Group, and CEO of LiveTechnology.
- Neil Pennington, WLA Executive Vice President -- former CFO of BMG Direct, CFO
and COO of American Family Enterprises, and CFO/General Manager of Columbia
House.
About CyberDefender
CyberDefender is a leading provider of remote technical support services,
Internet security software and utilities directly to the consumer market.
CyberDefender's team of highly trained technicians and sales agents provide
customers with efficient, round the clock remote PC repair services. T! he company
markets antispyware/antivirus software, PC optimization software and online
backup services. By combining remote live technical support and the
aforementioned software products, CyberDefender offers a complete Internet
security solution to consumers.
CyberDefender directly markets its products and services to consumers through
television and radio via its MyCleanPC(R), MaxMySpeed(R) and DoubleMySpeed(R)
brands. CyberDefender products are fully compatible with Microsoft Windows(R)
XP, Vista(R), and 7 Operating systems. All products are available at
www.cyberdefender.com. Investor relations information is available at
www.cyberdefendercorp.com.
The CyberDefender Corporation logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=7874
Forward Looking Statements
Statements in this public announcement that are not statements of historical or
current fact, including statements regarding future market opportunities, the
expansion of the Company's platform, and fu! ture business and financial results,
constitute "forward-looking statements" within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Such forward-looking statements involve known and unknown risks, uncertainties
and other unknown factors that could cause CyberDefender's actual results to be
materially different from the historical results or from any future results
expressed or implied by such forward-looking statements. Factors that could
cause CyberDefender's results to be materially different from the
forward-looking statements include, but are not limited to, whether
CyberDefender will be able to find financing as required and whether
CyberDefender's revenues will eventually exceed its expenses. The
forward-looking statements also are subject generally to other risks and
uncertainties that are described from time to time in CyberDefender's reports
and registration stat! ements filed with the Securities and Exchange Commission,
which are available for review at http://www.sec.gov/.
This news release was distributed by GlobeNewswire, www.globenewswire.com
SOURCE: CyberDefender Corporation
By Staff
CONTACT: CONTACT: Investor Relations:
(213) 689-8631 x 401
IR@CyberDefender.com
IR Site: www.CyberDefenderCorp.com
(C) Copyright 2010 GlobeNewswire, Inc. All rights reserved.
-0-
INDUSTRY KEYWORD: Computer Software and Services
SUBJECT CODE: COMPUTERS
&! nbsp; ELECTRONICS
SOFTWARE
Product Services Announcement
yes, it looks ready for the next leg up!
I like how it has come off its lows, next stop .85-.95 :)
CyberDefender Guides In-line
20 hours 34 minutes ago - EarningsWhispers Earnings Guidance via Comtex
EarningsWhispers Earnings Guidance
CyberDefender Corp (NASDAQ: CYDE) said it expects 2011 revenue to exceed $70.0 million. The current consensus estimate is revenue of $70.7 million for the year ending December 31, 2011.
This earnings guidance summary was provided by EarningsWhispers, a leading provider of earnings expectations - including corporate guidance announcements and analysts' expectations that differ from published estimates. http://www.earningswhispers.com
This one looks to cheap down here under one $.
The 28th is getting close and the PPS is ready to go north IMO
GLTA
Go Cyde
A Short play isn't a bad idea IMHO but it may not keep bouncing for long. It will be interesting to hear the confrence call next week. This ia a good entry pointfor CYDE IMO.
GLTA
what is going on with this stock looks like the short play is the best bet.
CyberDefender Announces Customer Acquisition Milestone; On Track to Reach Cash Flow Positive in Q4 2009
Press Release
Source: CyberDefender Corporation
On 7:30 am EDT, Tuesday October 27, 2009
Buzz up! 0 Print.Companies:Cyberdefender Corporation
LOS ANGELES--(BUSINESS WIRE)--CyberDefender Corporation (OTCBB: CYDE), an award-winning provider of PC security, Antispyware/Antivirus Software, PC Optimization, PC Support, and Identity Theft Prevention solutions, today announced it has reached a record 350,000 paying subscribers and has generated an average of two million user downloads per month since April 2009. Based on the growing number of paying subscribers, the company believes it is tracking to expectations to reach cash flow positive by the end of the fourth quarter 2009.
Related Quotes
Symbol Price Change
CYDE.OB 3.20 0.00
{"s" : "cyde.ob","k" : "c10,l10,p20,t10","o" : "","j" : ""} “By executing on our growth plan, while scaling our operations to match demand, we believe we are in a position to be cash flow positive by the end of 2009,” said CyberDefender CFO Kevin Harris. “We are pleased with the growth of our customer base, and believe this rapid growth validates the value of our product and the efficacy of our multi-channel marketing strategy.”
Through a global peer-to-peer network, CyberDefender’s continuous cycle of technology innovation and minute-by-minute monitoring of global threats fuels the growth of new subscribers. As a result, the company reported 400 percent annual revenue growth from the end of the second quarter 2008 to the end of the second quarter 2009, and the second quarter 2009 was the company’s sixth consecutive quarter of growth. Additionally, the company has strong renewal rates at over 40% and growing.
“By leveraging a number of new partnerships and distribution channels, we are working aggressively to continue to grow the number of paying subscribers to one million, increase our renewal rates and drive up average revenue per customer. We believe we are taking all the right steps to achieve our longer-term goal of reaching profitability,” Harris concluded.
About CyberDefender Corporation
CyberDefender Corporation is a leading provider of Internet security technology, specializing in state-of-the-art early detection and aggressive defenses against Internet security attacks. CyberDefender uses a patent pending secure peer-to-peer collaborative threat protection network (the earlyNETWORK), to combat spyware, viruses and identity theft. Products employing the company’s earlyNETWORK technology include CyberDefender Early Detection Center and MyIdentityDefender. CyberDefender also offers PC optimization utilities and Live Premium Technical Support services. CyberDefender products are fully compatible with Microsoft's Vista Operating system and are available at http://www.cyberdefender.com. To date, more than 15 million consumers have used CyberDefender products. CyberDefender is headquartered in Los Angeles, CA.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact, such as CyberDefender's expectation of future revenue growth and profitability, constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause CyberDefender's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Factors that could cause CyberDefender's results to be materially different from the forward-looking statements include whether CyberDefender will be able to find financing when and as it needs it and whether CyberDefender's revenues will eventually exceed its expenses. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in CyberDefender's reports and registration statements filed with the Securities and Exchange Commission, which are available for review at http://www.sec.gov/.
Contact:
Caye PartnersMarie Dagresto, 310-571-8205 310-571-8205marie@cayepartners.com
Breakout time?
CyberDefender Launches National Retail Distribution Campaign With Over 40,000 Stores; Believes Exposure to Millions of Potential New Customers Could Add Up to $20 Million in Sales Over the Next 18 Months
May 21, 2009 6:45:00 AM
Email Story Discuss on ZenoBank
View Additional ProfilesLOS ANGELES, May 21 /PRNewswire-FirstCall/ -- Pursuing its growth strategy of "investing into scale," CyberDefender Corporation (OTC Bulletin Board: CYDE), a provider of award-winning PC security, Antispyware/ Antivirus Software, PC Optimization, PC Support, and Identity Theft Prevention solutions, announced today an agreement with Allianex, a leading provider of brand management services, to launch a new marketing program for the sale of prepaid cards for per use access to a full range of CyberDefender products and services via prominent, point of purchase merchandising displays at more than 40,000 retail stores throughout the U.S. CyberDefender believes this exciting new "brick and mortar" point of purchase marketing approach to selling CyberDefender's products will reach millions of consumers and could increase sales by up to $20 million over the next 18 months.
Mr. Gary Guseinov, CEO of CyberDefender, stated, "Until recently, the major channel CyberDefender has utilized to sell its products has been the Internet. Recognizing that a high percentage of our customers become repeat customers, we have initiated a strategy for ramping up the scale of our customer base employing carefully targeted significant new advertising investments encompassing important new channels, including radio, television, and with this latest launch, an "in store" retailer merchandising approach. Together with Allianex, we have shaped a program we believe is unique for a PC support services product and will generate a very high degree of new product awareness, as well as new repeat customers."
A Software Retailing First
Representing what CyberDefender believes is a "first" in its new retailer program, CyberDefender prepaid purchase cards will not be displayed with other software programs in a typical store's often confusing "technology section," but rather, in a separate, point of purchase retail card display right next to the cash register, where it will have extremely high visibility.
CyberDefender says its full range of products will be available on the pre-paid cards, for one or multiple uses, including its most recent products combining technical help with the most advanced security software.
Mr. Guseinov added, "We are very confident that adding this new marketing channel in time for back to school merchandising, will provide a substantial further boost to our customer base. In combination with the other successful advertising initiatives we have taken, as well as more to come, we continue to move closer to reaching our goal of becoming a profitable leader in the Internet security space."
About CyberDefender Corporation
CyberDefender Corporation (OTCBB: CYDE) believes that its Internet security technology offers the earliest possible detection and most aggressive defense against Internet security attacks. CyberDefender believes that it is the only Internet security software company to combat spyware, viruses, and identity theft using a secure peer-to-peer distributed network (the earlyNETWORK(TM)), enabling protection that is unparalleled in speed and flexibility. Products employing the earlyNETWORK(TM) include CyberDefender's MyIdentityDefender(TM) Toolbar, CyberDefenderFREE(TM) 2.0, and CyberDefender Early Detection Center(TM) 2.0. All of these products are fully compatible with Microsoft's Vista Operating system and available at http://www.cyberdefender.com/.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact, such as CyberDefender's expectation of future revenue growth and profitability, constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause CyberDefender's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Factors that could cause CyberDefender's results to be materially different from the forward-looking statements include whether CyberDefender will be able to find financing when and as it needs it and whether CyberDefender's revenues will eventually exceed its expenses. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in CyberDefender's reports and registration statements filed with the Securities and Exchange Commission, which are available for review at http://www.sec.gov/.
CONTACT:
Web Site: http://www.cyberdefender.com/
Kevin Harris
Chief Financial Officer
CyberDefender
Kevin@cyberdefender.com
Tel: 213-689-8631 X127
Fax: 213-689-8640
Ken Donenfeld
DGI Investor Relations
donfgroup@aol.com
Tel: 212-425-5700
Fax: 646-381-9727
SOURCE CyberDefender
----------------------------------------------
Kevin Harris
Chief Financial Officer of CyberDefender
+1-213-689-8631
ext. 127
Fax
+1-213-689-8640
Kevin@cyberdefender.com; or Ken Donenfeld of DGI Investor Relations
+1-212-425-5700
Fax
+1-646-381-9727
donfgroup@aol.com
for CyberDefender
Ramped Up Marketing and Successful Products Propel More Than 500% Increase in CyberDefender's First Quarter 2009 Revenues and Gross Profits as Compared to First Quarter 2008
May 18, 2009 7:00:00 AM
Email Story Discuss on ZenoBank
View Additional ProfilesQuarter Over Quarter Gains Continue in Revenues, Licenses Sold and Cash Receipts From Sales; New Marketing Initiatives Planned
Investor Conference Call To Be Held Tomorrow--Tuesday, May 19, at 4:15pm ET
LOS ANGELES, May 18 /PRNewswire-FirstCall/ -- CyberDefender Corporation ("the Company") (OTC Bulletin Board: CYDE), a provider of award-winning PC security, Antispyware/ Antivirus Software, PC Optimization, PC Support, and Identity Theft Prevention solutions, announced today that following its recently reported doubling in sales in 2008, the Company generated a more than 500% increase in revenues in its first quarter ended March 31, 2009 as compared to the first quarter of 2008.
First quarter 2009 revenues increased to $3,191,630 from $475,046 in the first quarter of 2008, and increased 30% compared to revenues in the fourth quarter of 2008, while gross profit in the 2009 first quarter increased to $2,511,926 from $401,061 in the same period last year. As anticipated, CyberDefender's net loss increased to approximately $ 4.8 million , primarily reflecting its strategic decision to increase advertising/customer acquisition expense by approximately $3.48 million from $269,000 in last year's first quarter.
Mr. Gary Guseinov, CEO of CyberDefender, commented, "Our decision to dramatically ramp up advertising to build new sales, coupled with the positive reception to our newest CyberDefender(TM) Registry Cleaner product and our Premium Technical Support services, were the key contributors to growth in the period. As we continue to see a very high percentage of new licensees become repeat customers and the number of new customers continues to grow, our confidence in building a profitable and dramatically expanded customer base continues to be high."
Other Positive Growth Indicators
The Company also reported that average sales per customer grew 30% to $81.02 in the first quarter of 2009 as compared to $62.38 in the 2008 fourth quarter. It attributed this to the success of its newest products and services, CyberDefender(TM) Registry Cleaner and CyberDefender's Premium Technical Support services.
The quarterly growth in new licensees also continued and reached 99,804 at quarter end, a 37% gain over the fourth quarter of 2008.
CyberDefender also saw revenues in the quarter increase month by month, a trend it believes will continue, as it monitors and balances advertising expenditures and cash flow to optimize utilization of its resources.
Quarterly Cash Receipts Up 54%
CyberDefender noted that in the first quarter of 2009 cash receipts from the sales of new licenses, which become deferred income on its books over the 12 to 36 month terms of each license, increased to $5.5 million from $3.6 million in the fourth quarter of 2008 and $2.5 million in the third quarter 2008.
Mr. Kevin Harris, CFO of CyberDefender, commented, "As we have continued to accelerate customer acquisitions with an aggressive multi-channel advertising campaign, we have looked to outside financing to help build, as rapidly as possible, a critical mass in our customer base. Over the past quarter we nevertheless have reduced our overall debt by approximately $1.4 million. Looking at our anticipated sales growth, cash flow and current and planned expenditures, we believe we should achieve positive cash flow from operations by the end of the third or fourth quarter this year."
TV Ad Launched: Goal is $8 million to $10 million a month in new revenues
One of the most significant events in CyberDefender's history occurred during the quarter, which was expanding its relationship with Guthy-Renker, a major direct response marketing firm, for the launch of a national radio and television marketing campaign with an advertising budget of up to $16 million.
To date, CyberDefender has mostly utilized search engine advertising on the Internet and an increasing number of ads on radio. Since the agreement with Guthy-Renker, several test TV ads have been run and an additional four to five TV ads will be tested over the next 60 days. After this, the ads will be launched nationally, and the Company believes the anticipated increased exposure has the potential to help CyberDefender profitably generate $8 million to $10 million per month in new revenues.
CyberDefender also expects to launch a new retail program which will provide customers with pre-paid cards for per use access to CyberDefender's products and services.
Outlook
"Looking ahead," Mr. Guseinov said, "we are excited about moving closer to our goal of a full launch of all of our marketing channels, which will magnify the opportunity for consumers to learn more about CyberDefender products. We also continue to focus on constant improvement of our customer service and on providing new services that respond to customer needs. Happy customers are repeat customers, and that ultimately is what will propel CyberDefender to achieve its growth goals."
Conference Call Information
The Company will host a conference call to discuss first quarter 2009 results on Tuesday, May 19, 2009 at 4:15pm ET.
Interested participants should call 1-877-941-8632 when calling within the United States or 1-480-629-9821 when calling internationally. Please ask for the CyberDefender Corporation Conference Call, Pass Code 4080078. There will be a playback available until 05/26/2009. To listen to the playback, please call 1-800-406-7325 when calling within the United States or 1-303-590-3030 when calling internationally. Use the Pass Code 4080078 for the replay.
This call is also being webcast by ViaVid Broadcasting and can be accessed by clicking on this link, http://viavid.net/dce.aspx?sid=000064C1, or at ViaVid's website at http://www.viavid.net. This event is optimized for Microsoft's Windows media player version 9. To download go to http://www.microsoft.com/windows/windowsmedia/download.
About CyberDefender Corporation
CyberDefender Corporation (OTCBB: CYDE) believes that its Internet security technology offers the earliest possible detection and most aggressive defense against Internet security attacks. CyberDefender believes that it is the only Internet security software company to combat spyware, viruses, and identity theft using a secure peer-to-peer distributed network (the earlyNETWORK(TM)), enabling protection that is unparalleled in speed and flexibility. Products employing the earlyNETWORK(TM) include CyberDefender's MyIdentityDefender(TM) Toolbar, CyberDefenderFREE(TM) 2.0, and CyberDefender Early Detection Center(TM) 2.0. All of these products are fully compatible with Microsoft's Vista Operating system and available at http://www.cyberdefender.com/.
Forward Looking Statements
Statements in this press release that are not statements of historical or current fact, such as CyberDefender's expectation of future revenue growth and profitability, constitute "forward-looking statements". Such forward-looking statements involve known and unknown risks, uncertainties and other unknown factors that could cause CyberDefender's actual results to be materially different from the historical results or from any future results expressed or implied by such forward-looking statements. Factors that could cause CyberDefender's results to be materially different from the forward-looking statements include whether CyberDefender will be able to find financing when and as it needs it and whether CyberDefender's revenues will eventually exceed its expenses. The forward-looking statements contained herein are also subject generally to other risks and uncertainties that are described from time to time in CyberDefender's reports and registration statements filed with the Securities and Exchange Commission, which are available for review at http://www.sec.gov/.
CONTACT:
Web Site: http://www.cyberdefender.com/
Kevin Harris
Chief Financial Officer
CyberDefender
Kevin@cyberdefender.com
Tel: 213-689-8631 X127
Fax: 213-689-8640
Ken Donenfeld
DGI Investor Relations
donfgroup@aol.com
Tel: 212-425-5700
Fax: 646-381-9727
SOURCE CyberDefender Corporation
----------------------------------------------
Kevin Harris
Chief Financial Officer of CyberDefender
+1-213-689-8631
ext. 127
Fax: +1-213-689-8640
Kevin@cyberdefender.com; or Ken Donenfeld of DGI Investor Relations
+1-212-425-5700
Fax: +1-646-381-9727
donfgroup@aol.com
Followers
|
6
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
204
|
Created
|
10/03/08
|
Type
|
Free
|
Moderators |
CyberDefender Corporation is a California-based company with a mission to bring advanced solutions to the internet security market, combating and preventing identity theft, unwanted advertisements, Internet viruses, spyware and other similar security threats. For more information on CyberDefender's free anti-virus scans, visit www.cyberdefender.com.
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |